INREV, the European Association for Investors in Non-listed Real Estate Funds, has appointed Michael Morgenroth as its chairman following three years with Johan van der Ende in the role.
Morgenroth, a management board member at Gothaer Asset Management AG, is INREV’s first German chairman, the organisation said in a statement today. He takes over from van der Ende, chief investment officer of structured investments at Dutch asset manager PGGM.
Morgenroth said: “As we move out of a market downturn, the next few years will see further challenges and opportunities for the non-listed sector. My role along with the management board is to ensure that INREV continues to play a central role in moving the industry forward at this time.”
During van der Ende’s reign, the association has developed a performance benchmark, the INREV Index, and firmed up the INREV Guidelines leading to increased transparency and professionalism in the industry. Morgenroth was first appointed to the INREV management board in April 2009.
Van der Ende said the organisation had “come of age”.
Further changes in the management board also see the remaining members of the original board rotating off. This includes INREV founder Pieter Hendrikse, chief executive of ING Real Estate Investment Management Europe. Other original board members rotating off include Georg Allendorf, managing director of RREEF, Bernhard Berg, chief executive officer of Generali Deutschland Immobilien, and Michael Nielsen, managing director and partner of ATP Real Estate.
New appointments to the board include Jens Christian Britze, partner at ATP Real Estate, and Patrick Kanters, managing director global real estate, APG Asset Management.
Noel Manns, a principal at Europa Capital Partners, also joins along with Iris Aalders, manager of strategy and organisation at ING Real Estate Investment Management Europe in the Netherlands, and Tobias Pfeffer, manager indirect investments at Generali Deutschland Immobilien.
Earlier this year, the organisation also announced a new chief executive. Dr Matthias Thomas joins INREV in August from the Real Estate Management Institute at the European Business School. He used to be a managing director at Investment Property Databank (IPD) GmbH, the German chapter of the organisation, which he founded in 1998. Thomas succeeds Lisette van Doorn, who stepped down as CEO in October 2009 to join ING Real Estate Investment Management (REIM) Italy.